Sale of Easy Recharge
This query is : Open
14 February 2017
Suppose A is a sub distributor of BSNL easy recharge. He has a turnover Rs 50 Lakhs. He is earning Rs. 25,000/-. On his earning no TDS was deducted. Now my question is that whether section 44AD will be applicable in this case and his earning will be assumed 8 ℅ * 50 Lakhs = 4 Lakhs.
14 February 2017
section 44AD is not applicable to person earning commission or brokerage income. normal taxation provisions will apply
14 February 2017
As no TDS was deducted from his earning. Hence whether the earnings can be treated as commission income
15 February 2017
nature income doesn't depend upon tds deduction. if it's commission income then even if no tds is made, it will remain commission. and even for Section 44AB in case of commission income, turnover to be considered is portion of commission and not the gross turnover on which it is received.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- TDS RATE ON RENT PAID TO NRI
- Income Type for interest from government bonds
- FREELANCING ACCOUNTANT
- Not a CA , can we prepare balance sheet
- TCS ON SOFTWARE SALES
- Gstr 9 2023-24
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Issue of gst e invoice
- ITR 6 Schedule CFL and UD Issues
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
